5 Easiest Ways To Buy Bitcoin: Everything You Need To Know

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Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.

Highlights

  • Bitcoin investments require making the right choice of place. A place to buy and sell the coins, in short, where trading can be performed.
  • To know the easiest ways of buying bitcoins can help build a strong insight into Bitcoin buying processes. 

Bitcoin investments require making the right choice of place. A place to buy and sell the coins, in short, where trading can be performed. To choose the best Bitcoin exchange for buying and selling Bitcoin comes off as a not-so-easy task. And the availability of numerous options makes the task much tougher. However, gaining the right knowledge about the options available and choosing the platform that suits one’s comfort adds to a good choice. Also, to know the easiest ways of buying bitcoins can help build a strong insight into Bitcoin buying processes. 

1. Fiat Exchanges

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Fiat exchanges are those exchanges that allow the government-backed currencies to be directly converted to the cryptocurrency. They are also referred to as the Fiat-crypto exchanges as they convert fiat money to cryptocurrency. Few of the examples are listed below:

  • Coinbase is the most prominent Bitcoin (BTC) exchange. It has consumers in most of the countries. It offers a user-friendly interface that is especially helpful to new consumers. A few of its benefits involve a trusted provider, two-factor authentication and user-friendliness.
  • Coinmama is the safest and secure exchange. It involves a reliable and trusted broker. The advantages of this exchange include an easy-intuitive interface and high limits for buying bitcoin. Coinmama works in almost all countries.

There are a wide number of fiat exchanges. A thorough study to make a suitable exchange choice is necessary. It although depends on what appeals most comforting in terms of user-interface and security.

2. Cryptocurrency exchanges

These exchanges allow cryptocurrencies to be traded with one another. They are also referred to as crypto-to-crypto exchanges. To list some are below:

  • BitFinex is the largest exchange based on consumer count. Its advantages include a customizable interface and prioritizing security above all.
  • Binance is one of the latest exchanges to offer the trading platform. Despite being just a few years old, it has attracted huge consumers. Its benefits include a wide range of cryptocurrencies and two-factor authentication. Besides, it owns a high volume across all pairs.

3. Credit and Debit Cards

Buying bitcoins through credit and debit cards is one of the most prominent and comfortable ways to purchase Bitcoin. Almost all cryptocurrency exchanges offer payment options through credit and debit cards. Exchanges charge a minimum of 4% fee for card purchases. The popular exchanges that provide credit/debit card payments along with their charged fee are listed below:

Exchange       Fee charged

  1. Coinbase     –      3.99% 
  2. Coinmama   –      5.9%
  3. CEX.io         –      3.9%
  4. Bitpanda      –     2.99%

One can choose to buy Bitcoin through credit/debit cards considering factors like the security of the exchange and also the fee charged for each purchase.

4. PayPal

Buying Bitcoins through PayPal involves irreversible transactions. There exist several indirect ways to buy Bitcoins through Paypal. Few of the sites offer to purchase Bitcoins via PayPal:

  • Localbitcoins is a well-known way to buy Bitcoins through PayPal. It involves making a careful choice of the seller.
  • Paxful is another popular way that is similar to Localbitcoins. But offers a clearer user interface additionally. Paxful is an ideal service for sellers to perform trading.
5. Bitcoin ATM (BATM)

Bitcoin ATM (BATM) allows a person to buy Bitcoin with the use of an automatic teller machine. Few Bitcoin ATMs enable both the buying of Bitcoin and the sale of Bitcoin for fiat money. Bitcoin is similar to traditional machines but allows the exchange for Bitcoin in return for cash or credit. They connect the consumers to a Bitcoin exchange directly. It is one of the convenient ways to buy Bitcoin in person. However, it is necessary to develop an understanding of how Bitcoin ATMs work.

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